Spirit of America Management Corp NY Has $1.33 Million Stock Holdings in Texas Pacific Land Co. (NYSE:TPL)

Spirit of America Management Corp NY lifted its position in Texas Pacific Land Co. (NYSE:TPL) by 11.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,505 shares of the financial services provider’s stock after purchasing an additional 155 shares during the quarter. Spirit of America Management Corp NY’s holdings in Texas Pacific Land were worth $1,332,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its stake in Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares during the last quarter. GAMMA Investing LLC grew its position in Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 41 shares during the last quarter. American National Bank acquired a new stake in Texas Pacific Land during the 2nd quarter valued at $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Pacific Land in the 2nd quarter valued at $44,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land in the third quarter worth $44,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Performance

Shares of TPL opened at $1,089.97 on Friday. The business’s fifty day moving average price is $914.13 and its two-hundred day moving average price is $769.64. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 56.07 and a beta of 1.60. Texas Pacific Land Co. has a 52 week low of $467.62 and a 52 week high of $1,095.75.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). The firm had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period in the prior year, the firm posted $4.35 earnings per share.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.43%. Texas Pacific Land’s payout ratio is presently 24.07%.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.